Revolut is a digital payments company based in London. It allows their customers to transfer money worldwide. Now, through the company’s mobile app, people can hold, buy, sell and transfer cryptocurrencies with no fees within seconds. For the time, the app includes Bitcoin, Ethereum, Litecoin and 25 of the popular currencies of the world.
Revolut’s CEO, Nikolay Storonsky talked to TechCrunch’s Disrupt conference in Berlin. He announced that the app is going to be accessible on Thursday, December 7th (today).
This moves catches up the cryptocurencies market uptrend.
The announcement follows the surge of the cryptocurrency market, the growing mainstream adoption and Bitcoin’s future contracts.
Bitcoin recorded a new historical all-time-high, with its price hitting the level of $15,134 today. The total digital currency market’s cap is at $403,3 billion at the moment.
Furthermore, Mr. Storonsky claimed that during the company’s beta testing week, more than 10,000 of its customers traded approximately $1 million in virtual currencies. In addition, he highlighted that the most requesting feature from their customers was the ability to trade cryptocurrencies. Finally, Revolut listened to them.
During the last month, the digital payments company passed the 1 million users mark. This indicates the potential for attracting more customers after the complete launch at the end of the week.
No fiat? No problem!
Revolut’s customers can use their debit card for shopping too. When they run out of fiat money, their cryptocurrency funds automatically converted to pay what’s required.
Also, Storonsky promised that the feature will provide very competitive rates. The most platforms charge about 5-9% on hidden fees, while Revolut will a charge a fixed 1,5% without any hidden fees, according to its CEO.
To achieve that, the company uses the Lloyds (UK-based bank) to process the transactions and provides its customers with a MasterCard debit card. According to the “Financial Times,” both companies were satisfied with the move.
As for the digital currency transactions, they will be conducted via GDAX and Bitstamp, two well-known digital currency exchanges.
As a result, this kind of innovative features provides the market and the users with what they need. A way for fast, easy, low-fees payments that finds application to daily life.